Can someone tell me when a Notice That Waiver of Appraisal Rights Will Be Required form is required in South Carolina? I have not seen this form before and have recently started to see it. Is anyone familiar with it? It appears to be evidenced by SC statute 37-1-301(11), but we have not required it in the past.

The Waiver of Appraisal Rights is not a required form by law. It may be beneficial to the bank in the event of foreclosure. It may not be exercised on consumer transactions. Our bank procedures require this form.